Cost Accountant

Aliases: Cost Analyst

Industry/Sector(s): BFSI

JOB DESCRIPTION ¹

The tasks a Cost Accountant is expected to perform include:

Devising and controlling system of determining unit cost of products or services
Calculating actual or average cost per unit considering various factors
Analysing cost records
Determining the performance of each unit
Reviewing balance sheets, operating income and expense accounts
Verifying and inspecting cash reserves
Establishing guidelines for procedures and policies that comply with new regulations

WORK ENVIRONMENT ^{1, 2}

It is a desk job
Need not handle a team
Local travelling is not a part of this job role
Part-time work and contractual jobs are available
Work from home option is not available

Working hours

Organizations usually work for 5/6 days a week and 8/9 hours everyday. This may vary from organization to organization
Shift system is not available
Overtime may be required

Is the job suitable for a candidate with special needs?

This job is suitable for candidates with One Arm (OA), One Leg (OL), One Arm and One Leg (OAL), Both Leg (BL), Muscular Weakness (MW) and those who have their Hearing Impaired (HH)
This may vary from organization to organization

EDUCATIONAL QUALIFICATIONS AND TRAINING ³

Preferably, ICWA graduate

KEY COMPETENCIES ¹

Knowledge of determining performance of each unit by computing machine hour rate, labour hour rate, etc.
Proficient in devising methods in order to find out sources of wastage of material
Well-versed with assisting management
Knowledge of ascertaining proper bases of distribution of cost of various divisions of management
Well-versed with devising suitable form for determining quantum of work to be performed by each unit

DESIRABLE COMPETENCIES ¹

Detail-oriented
Analytical skills

AVAILABLE SKILL TRAINING AND LEARNING INSTITUTES

Institutes of Cost Accountants of India
http://icmai.in/icmai/index.php

AVAILABLE SKILL TRAINING SCHEMES/SCHOLARSHIPS

SAMPLE OF TRAINING AND LEARNING COURSES

CAREER PROGRESSION PATH ¹

Chief Cost Accountant

↑

Cost Accounts Officer

↑

Senior Cost Accountant

↑

Cost Accountant

↑

Junior Cost Accountant

↑

Clerk – Cost Accountant

The progression is indicative

EXPECTED EARNINGS ⁴

For candidates with experience - Rs 32,000 to Rs 50,000 per month

These figures are indicative and subject to change

REQUIRED WORK EXPERIENCE ³

Generally, 5 - 10 years of work experience

PROBABLE EMPLOYERS ³

Banks
Chartered Accountant firms
Non-banking financial units

KEYWORDS

Cost Analyst
Senior Cost Accountant

OCCUPATIONAL CODES AND STANDARDS

Standard	Code	Description
NCO 2015	2411.0300	Cost Accountant
ISCO 2008	2411	Accountants
NIC 2008	70200	Management consultancy activities
QP Reference	Not available	Not available
NSQF	Not available	Not available

REFERENCES

1	National Classification of Occupations Division 2
2	http://www.payscale.com/research/IN/Job=Cost_Accountant/Salary

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